Trading NR7 setup

[AW10]

Thanks gsalvadi. Good to see your posts here.
Feel free to come back even before complete the read of this thread.
I guess, I have written too much here and made it too heavy to follow.

Take your time.
Hope your trading is going well..

Happy Trading

 

[rajsumi121]

Nr7 nifty future today . High 5082.5 low - 5038 .

 

[krishan prakash saxena]

tommorrow nifty future will be more than 5062 at least for some time

 

[niklravi]

hi all
nr7 identifies stocks which have the potential to flare up on the next trading daybased on EOD scan. But it best suites on an trending market if we select for an intraday play. however the chances are 50: 50 as i have seen many never participated in the rally or breakdown . The intraday gurus in this forum has pointed out the selection should be limited to only few stocks which we are familiar.
so based on this what extra we can look in to in an stock for an intraday play in nr7 stocks/favorites needs discussion. an additional indicator or and afl on those eod stocks fit for intraday?
just a thought

ravi

 

[rohangawale]

NR7 Stocks Triggered on 16th Nov:

[B]STOCK		HIGH		LOW[/B]
AXIS BANK	1,011.90	995.50
BHARTI		307.85		301.3
CAIRN		281.9		277.5
HDFC BANK	2793.7		2750
HDFC LTD	1749.8		1719
HDIL		370.5		360
INFOSYS		2374.7		2335.3
IDFC		173.5		171.7
JPASSOCAITE	237.85		232.1
JINDAL STEEL	721.4		703
L&T		1670		1648.9
M&M		1058.5		1035.35
RANBAXY		419		411.2
REL CAP		846.45		828.65
RIL		2161.9		2131.65
REL INFRA	1176.75		1157
UNITECH		86.9		84.35

 

[VJAY]

Thanks Vijay, for posting the NR7 list as of 13th Nov. That would have spoilt people by choice of stocks to day trade.

Unfortunately, most of them might have remained range bound today and hence hit stoplosses.

Nifty is in contraction zone for last 3 days (range of 75 to 90 points) against the 10day average range of 120 points. i.e. the trading is range 655 to 75% of normal behaviour. More over, it has been in contraction for extended period of 3 days.. Main signal - participant mood undecided on direction hence lack of volume.When the breakout from here gives us good chance for nice expansion, at the same time, it may result in volatility and false breakout.
That is mainly because, people would have built position during congestion and their swing trade stops are still intact. So when the expansion finally sets in then there might be good action between players who want to protect their stops and the same time, others who are trying to join breakout.

As mentioned in my first few post to trade such scenairo thru option, I am ready with Long OTM Strangles at 5100 call and 5000 put. Will Add-on to winning position and cut loss on other after breakout has occured and 4950-5050 band holds the retest.

Hope this helps.
Happy Trading

Dear AW10 sir,
Is it typo?....OTM or ATM?

 

[NOMINDTR]

hi all
nr7 identifies stocks which have the potential to flare up on the next trading daybased on EOD scan. But it best suites on an trending market if we select for an intraday play. however the chances are 50: 50 as i have seen many never participated in the rally or breakdown . The intraday gurus in this forum has pointed out the selection should be limited to only few stocks which we are familiar.
so based on this what extra we can look in to in an stock for an intraday play in nr7 stocks/favorites needs discussion. an additional indicator or and afl on those eod stocks fit for intraday?
just a thought

ravi

IMO, stock pick plays a crucial role in this. Not all picks could perform same under given market condition. We would not be knowing it for sure. Instead of confining your stock list to certain stocks, I would suggest to confine the list to certain patterns with NR7, say a 'pennat'. Some patters that should confirm a break out.

Though we can pick stocks with NR7, further investigation on EOD should give some clue so that the list could be refined. May be I am wrong.

 

[cbosein]

Thanks Vijay, for posting the NR7 list as of 13th Nov. That would have spoilt people by choice of stocks to day trade.

Unfortunately, most of them might have remained range bound today and hence hit stoplosses.

Nifty is in contraction zone for last 3 days (range of 75 to 90 points) against the 10day average range of 120 points. i.e. the trading is range 655 to 75% of normal behaviour. More over, it has been in contraction for extended period of 3 days.. Main signal - participant mood undecided on direction hence lack of volume.When the breakout from here gives us good chance for nice expansion, at the same time, it may result in volatility and false breakout.
That is mainly because, people would have built position during congestion and their swing trade stops are still intact. So when the expansion finally sets in then there might be good action between players who want to protect their stops and the same time, others who are trying to join breakout.

As mentioned in my first few post to trade such scenairo thru option, I am ready with Long OTM Strangles at 5100 call and 5000 put. Will Add-on to winning position and cut loss on other after breakout has occured and 4950-5050 band holds the retest.

Hope this helps.
Happy Trading

Hi AW10,

I am regular reader of your thread & found very useful for option trading. I gone thro' your 1post many times. Basically understood your strategy & started appling from 16-10-09 (learning). Still I am confused with Strangles which you mentioned in this post. "Long OTM Strangles at 5100 call and 5000 put".

OTM means On The Money & ATM means At The Money.

1)What is difference between OTM & ATM. Example for OTM, ATM & Out Of Money
2) Please explain with figures for "Long OTM Strangles at 5100 call and 5000 put" plan & execution for us to learn & apply practically.

Thanks in advance,

Regards,
Keerthi

 

[nandanbal]

Hi AW10,

I am regular reader of your thread & found very useful for option trading. I gone thro' your 1post many times. Basically understood your strategy & started appling from 16-10-09 (learning). Still I am confused with Strangles which you mentioned in this post. "Long OTM Strangles at 5100 call and 5000 put".

OTM means On The Money & ATM means At The Money.

1)What is difference between OTM & ATM. Example for OTM, ATM & Out Of Money
2) Please explain with figures for "Long OTM Strangles at 5100 call and 5000 put" plan & execution for us to learn & apply practically.

Thanks in advance,

Regards,
Keerthi

Keerthi;
OTM is not ON THE MONEY.
OTM is OUT OF THE MONEY.
ATM is as u said AT THE MONEY.
Hope this clariies your doubt
regars. nandan.

 

[rohangawale]

Hi AW10,

1)What is difference between OTM & ATM. Example for OTM, ATM & Out Of Money

Regards,
Keerthi

Its OTM , ATM and ITM
OTM=Out Of The Money
ATM=At The Money
ITM= In The Money